Ethereum Explained for Beginners: What It Is & How It Works 💡

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Ethereum was proposed in 2013 and brought to life in 2014 by Vitalik Buterin. Unlike the Bitcoin network which was designed for Bitcoin transactions only, Ethereum is a DIY platform for decentralized apps (or Dapps) that uses smart contracts. ‘Ether’ is Ethereum network’s currency and it is used for running Dapps.

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0:34 - Quick Bitcoin recap
1:27 - Blockchain technology in a nutshell
3:30 - What is Ethereum?
5:43 - How Ethereum works
8:14 - The DAO and the Ethereum fork
9:47 - Ethereum as a currency
10:39 - Ethereum's ICO
11:09 - Conclusion

Special thanks to Jimmy Song who's post about Smart Contracts helped us a lot in creating this video:
https://medium.com/@jimmysong/the-truth-about-smart-contracts-ae825271811f

For the complete text guide visit:
http://bit.ly/2RAjY4j

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